Royal Bank Of Canada initiated coverage on shares of Silgan Holdings Inc. (NASDAQ:SLGN) in a research note released on Monday, Marketbeat Ratings reports. The firm issued a sector perform rating and a $30.00 price objective on the industrial products company’s stock.
SLGN has been the subject of a number of other research reports. BMO Capital Markets reissued a buy rating and issued a $34.00 price target on shares of Silgan Holdings in a research note on Monday, September 18th. ValuEngine cut shares of Silgan Holdings from a buy rating to a hold rating in a research note on Friday, September 1st. KeyCorp reissued a hold rating on shares of Silgan Holdings in a research note on Friday, August 25th. BidaskClub raised shares of Silgan Holdings from a strong sell rating to a sell rating in a research note on Monday, August 14th. Finally, Bank of America Corporation cut shares of Silgan Holdings from a buy rating to a neutral rating and set a $35.00 price target for the company. in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Silgan Holdings presently has an average rating of Hold and a consensus price target of $32.00.
Silgan Holdings (SLGN) traded up 0.17% during mid-day trading on Monday, hitting $28.67. 24,662 shares of the company traded hands. Silgan Holdings has a one year low of $23.86 and a one year high of $32.50. The firm has a market capitalization of $3.16 billion, a P/E ratio of 22.77 and a beta of 0.53. The firm has a 50 day moving average of $29.38 and a 200 day moving average of $30.49.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Silgan Holdings had a net margin of 3.83% and a return on equity of 31.19%. Silgan Holdings’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. Equities research analysts expect that Silgan Holdings will post $1.66 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.36 dividend on an annualized basis and a yield of 1.26%. Silgan Holdings’s dividend payout ratio is presently 29.03%.
In other Silgan Holdings news, insider Thomas James Snyder sold 10,506 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $30.78, for a total value of $323,374.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Anthony P. Andreacchi sold 2,192 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $30.18, for a total transaction of $66,154.56. The disclosure for this sale can be found here. In the last three months, insiders sold 19,698 shares of company stock valued at $597,429. Corporate insiders own 33.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in SLGN. FMR LLC boosted its stake in shares of Silgan Holdings by 98.3% in the 2nd quarter. FMR LLC now owns 13,086,272 shares of the industrial products company’s stock valued at $415,881,000 after purchasing an additional 6,485,884 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Silgan Holdings by 102.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,792,959 shares of the industrial products company’s stock valued at $247,661,000 after purchasing an additional 3,939,145 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Silgan Holdings by 92.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,542,961 shares of the industrial products company’s stock valued at $239,715,000 after purchasing an additional 3,624,183 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Silgan Holdings by 107.4% in the 2nd quarter. BlackRock Inc. now owns 6,637,734 shares of the industrial products company’s stock valued at $210,947,000 after purchasing an additional 3,437,477 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Silgan Holdings by 107.8% in the 2nd quarter. State Street Corp now owns 2,006,227 shares of the industrial products company’s stock valued at $63,762,000 after purchasing an additional 1,040,766 shares in the last quarter. 67.00% of the stock is owned by institutional investors.
About Silgan Holdings
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
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